Houlihan Lokey Advises Bristow Group

Houlihan Lokey is pleased to announce it has successfully advised Bristow Group, Inc., on its merger with Era Group, Inc. (NYSE:ERA). The combined company, named Bristow Group, Inc., will trade on the New York Stock Exchange under the stock ticker "NYSE:VTOL." The transaction closed on June 11, 2020.

Bristow Group, Inc. (NYSE:VTOL) is a leading helicopter operator focused on the offshore oil and gas (O&G) industry. The company services a broad base of major integrated, national, and independent offshore energy companies through its consolidated fleet of ~200 aircraft. Bristow also provides private sector search and rescue (SAR) services in Australia, Canada, Norway, and Trinidad; public sector SAR services on behalf of Her Majesty’s Coastguard in the U.K.; and fixed-wing aircraft services to the O&G industry through its minority interests in Airnorth. The company has major transportation operations in the North Sea, Nigeria, and the U.S. Gulf of Mexico and in most of the other major offshore-energy-producing regions of the world.

Era Group, Inc. (NYSE:ERA) is a leading helicopter operator focused on the offshore O&G industry. Era offers services focused on transporting crews, managers, and inspection teams to offshore production platforms, drilling rigs, and other installations as well as SAR in offshore O&G markets. Era also deploys helicopters in support of other industries and activities, such as air medical services, utility services, and dry-lease arrangements for some of its fleet with local operators in select international markets such as India. Era primarily serves customers in the U.S., mainly in the Gulf of Mexico, but also serves customers internationally in Argentina, Brazil, Canada, Colombia, the Dominican Republic, India, Mexico, Spain, and Suriname.

The merger strengthens Bristow’s global leadership position, creating a more financially sound company with enhanced size and diversification.

Following Houlihan Lokey’s role as the company’s advisor in its 2019 restructuring, Houlihan Lokey served as buyside co-advisor to Bristow in the merger. Throughout the pursuit of the merger, Houlihan Lokey provided M&A guidance and assisted in due diligence, structuring, and negotiating the merger. This transaction reinforced Houlihan Lokey’s extensive knowledge of the transportation services industry and its relationship with Bristow.